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BRIEF-ArcelorMittal Q2 EBITDA Up At $5.2 Bln

BRIEF-ArcelorMittal Q2 EBITDA Up At $5.2 Bln

Reuters · 07/28/2022 02:12
BRIEF-ArcelorMittal Q2 EBITDA Up At $5.2 Bln

- ARCELORMITTAL SA MT:

  • EBITDA INCREASED TO $5.2BN IN 2Q 2022

  • POTENTIAL FOR ENERGY SUPPLY RESTRICTIONS PRESENTS A CLEAR BUT, AS YET, UNCERTAIN RISK TO ECONOMIC ACTIVITY IN EUROPE

  • COMPANY HIGHLIGHTS POTENTIAL DOWNSIDE RISKS TO DEMAND FORECASTS PRESENTED AT 1Q 2022 RESULTS, PARTICULARLY TO FORECAST DEMAND FOR EUROPE

  • LONGER-TERM FUNDAMENTAL OUTLOOK FOR STEEL IS POSITIVE

  • CHINA'S FOCUS ON DECARBONIZATION AND REMOVAL OF VAT-REBATES ON STEEL EXPORTS ARE ENCOURAGING

  • STRONG NET INCOME: $3.9BN IN 2Q 2022 (VS. $4.1BN IN 1Q 2022) INCLUDES SHARE OF JV AND ASSOCIATES NET INCOME OF $0.6BN (VS. $0.6BN IN 1Q 2022); 1H 2022 NET INCOME OF $8.0BN (VS. $6.3BN IN 1H 2021)

  • OPERATING INCOME: 2Q 2022 OPERATING INCOME OF $4.5BN (VS. $4.4BN IN 1Q 2022); 1H 2022 OPERATING INCOME OF $8.9BN (VS. $7.1BN IN 1H 2021)

  • NET DEBT $4.2BN AND GROSS DEBT OF $8.8BN AT END OF JUNE 2022

  • GENERATED $1.7BN OF FREE CASH FLOW (FCF) IN 2Q 2022

  • Q2 CRUDE STEEL PRODUCTION AT 14.6 MT VS 17.8 MT YR AGO

  • Q2 STEEL SHIPMENTS AT 14.4 MT VS 16.1 MT YR AGO

  • Q2 TOTAL GROUP IRON ORE PRODUCTION AT 12.0 MT VS 11.2 MT YR AGO

Source text for Eikon: ID:

Further company coverage: MT


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